The Indian multinational conglomerate Reliance Industries with its ₹87,732.53 crore loss last week led seven of the 10 most valued companies which suffered a combined loss of ₹1.89 lakh crore in market valuation.
With the 30-share Bombay Stock Exchange Sensex plummeting by 1,877.66 points to close below the key 40,000-mark at 39,735.53 last week, it contributed to RILs valuation tumbling by ₹87,732.8 crore to reach ₹8,76,906.57 crore.
Market capitalisation was one of the major factors that affected the drop in the market value of the outstanding shares of these publically traded companies as it is equal to the share price multiplied by the number of shares outstanding.
The market capitalisation (m-cap) of HDFC fell by ₹31,148.4 crore to ₹3,92,618.14 crore and that of HDFC Bank by ₹24,736 crore to ₹6,56,888.50 crore.
The m-cap of ICICI Bank dropped ₹19,044.7 crore to ₹3,26,410.37 crore and that of SBI cracked ₹18,652.4 crore to ₹2,70,549.60 crore.
The valuation of Tata Consultancy Services (TCS) declined ₹7,317.15 crore to ₹8,12,428.81 crore and that of Infosys dipped ₹1,149.83 crore to ₹3,32,280.10 crore.
In contrast, Bharti Airtel which made its entry into the top-10 list added ₹2,392.15 crore to ₹2,71,332.15 crore in its valuation.
Kotak Mahindra Banks valuation rose by ₹1,182.02 crore to ₹3,15,346.61 crore and that of Hindustan Unilever Limited (HUL) gained ₹119.07 crore to ₹4,48,895.43 crore.
In the ranking of top-10 firms, RIL remained at the number one place followed by TCS, HDFC Bank, HUL, HDFC, Infosys, ICICIBANK, Kotak Mahindra Bank, Bharti Airtel, and SBI.
(With inputs from agencies)